Max Co., Ltd. (TYO:6454)

Max Co., Ltd. Income Statement

Financials in millions JPY. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	95,646	91,839	86,638	84,316	73,958	64,029
Revenue Growth (YoY)	7.95%	6.00%	2.75%	14.01%	15.51%	-8.10%
Cost of Revenue	48,925	47,938	46,781	48,187	42,569	36,704
Gross Profit	46,721	43,901	39,857	36,129	31,389	27,325
Selling, General & Admin	28,560	27,829	25,990	25,070	22,779	19,854
Other Operating Expenses	308	308	58	10	94	9
Operating Expenses	30,201	29,432	27,256	26,203	23,889	20,639
Operating Income	16,520	14,469	12,601	9,926	7,500	6,686
Interest Expense	-25	-25	-35	-41	-57	-42
Interest & Investment Income	607	507	380	254	198	178
Currency Exchange Gain (Loss)	191	-321	673	244	486	-94
Other Non Operating Income (Expenses)	119	178	97	127	155	98
EBT Excluding Unusual Items	17,412	14,808	13,716	10,510	8,282	6,826
Gain (Loss) on Sale of Investments	151	483	69	-9	-	29
Gain (Loss) on Sale of Assets	55	1	1	33	3	-
Asset Writedown	-97	-83	-61	-233	-36	-16
Other Unusual Items	-1	-2	-27	-2	-	193
Pretax Income	17,520	15,207	13,698	10,299	8,249	7,032
Income Tax Expense	4,454	3,977	3,262	2,675	2,164	1,887
Earnings From Continuing Operations	13,066	11,230	10,436	7,624	6,085	5,145
Minority Interest in Earnings	-6	-5	-1	-5	5	8
Net Income	13,060	11,225	10,435	7,619	6,090	5,153
Net Income to Common	13,060	11,225	10,435	7,619	6,090	5,153
Net Income Growth	26.78%	7.57%	36.96%	25.11%	18.18%	-6.48%
Shares Outstanding (Basic)	46	46	47	47	47	49
Shares Outstanding (Diluted)	46	46	47	47	47	49
Shares Change (YoY)	-1.16%	-0.99%	-0.88%	-0.28%	-2.61%	-0.41%
EPS (Basic)	283.69	241.79	222.55	161.07	128.38	105.80
EPS (Diluted)	283.69	241.79	222.55	161.07	128.38	105.80
EPS Growth	28.27%	8.64%	38.17%	25.46%	21.35%	-6.09%
Free Cash Flow	12,084	11,879	9,412	4,861	1,469	3,855
Free Cash Flow Per Share	262.49	255.88	200.73	102.76	30.97	79.15
Dividend Per Share	114.000	114.000	101.000	78.000	64.000	48.000
Dividend Growth	12.87%	12.87%	29.49%	21.88%	33.33%	4.35%
Gross Margin	48.85%	47.80%	46.00%	42.85%	42.44%	42.68%
Operating Margin	17.27%	15.75%	14.54%	11.77%	10.14%	10.44%
Profit Margin	13.66%	12.22%	12.04%	9.04%	8.23%	8.05%
Free Cash Flow Margin	12.63%	12.93%	10.86%	5.76%	1.99%	6.02%
EBITDA	19,892	17,778	15,655	12,948	10,311	9,208
EBITDA Margin	20.80%	19.36%	18.07%	15.36%	13.94%	14.38%
D&A For EBITDA	3,372	3,309	3,054	3,022	2,811	2,522
EBIT	16,520	14,469	12,601	9,926	7,500	6,686
EBIT Margin	17.27%	15.75%	14.54%	11.77%	10.14%	10.44%
Effective Tax Rate	25.42%	26.15%	23.81%	25.97%	26.23%	26.83%
Advertising Expenses	-	1,679	1,511	1,415	1,299	1,171

Source: S&P Global Market Intelligence. Standard template. Financial Sources.